Boston Medical Buys Crosstown Center at Mass/Cass

Boston Medical Center (BMC) has purchased the Crosstown Center from Maryland developer and the Boston Planning and Development Agency (BPDA) for $12 million to support its move from the 88 East Newton St. building.

The hospital bought the building from Multi-employer Property Trust of Bethesda, Maryland. The company is a Bentall Kennedy core, open-end private equity real estate equity fund. BMC purchased the ground rights from the BPDA.

BMC has been consolidating its campus for the past few years, and it is also getting ready to evacuate the 88 E. Newton building so that the state can take possession for the Shattuck Hospital move.

That transaction is expected any day between BMC and the state.

In the meantime, BMC has needed to move operations from 88 E. Newton, and found a home at Crosstown Center.

“As an original and longtime tenant of the Crosstown Center, it made financial sense for Boston Medical Center to purchase the building this October from MEPT Crosstown Center Office LLC given that the window for lease renewals is upcoming in a couple of years,” read a statement from BMC. “BMC will continue to use Crosstown for clinical and administrative office space. Specific services in Crosstown will be determined as part of our Institutional Master Plan, taking into account how to best serve the needs of our community, patients and staff.”

BMC has been moving its staff and operations out of 88 E. Newton for the past month in preparation for the sale to the state.

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